Broker AJ Bell aiming for £500m London IPO

Broker and investment platform operator AJ Bell has appointed advisers to explore an initial public offering (IPO) on the London Stock Exchange which is expected to value the company at £500m.

The float would include a retail share offer available exclusively to AJ Bell’s customers and is set to take place in late 2018 or early 2019.

AJ Bell’s chief executive Andy Bell said: “An IPO is a natural next step in our journey and will provide a further boost to our future growth through the increased profile a stock market listing will give.

“We now have 172,000 customers and I want them to be able to share in our success by giving them exclusive access to the offer.”